Jefferies Group Reiterates Hold Rating for Regency Centers Corp. (REG)
Regency Centers Corp. (NYSE:REG)‘s stock had its “hold” rating reaffirmed by equities research analysts at Jefferies Group in a research note issued on Wednesday.
A number of other research analysts have also issued reports on REG. Zacks Investment Research lowered Regency Centers Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. Royal Bank Of Canada lifted their target price on Regency Centers Corp. from $82.00 to $91.00 and gave the company a “top pick” rating in a report on Friday, August 5th. RBC Capital Markets reiterated a “top pick” rating and issued a $91.00 target price (up from $82.00) on shares of Regency Centers Corp. in a report on Friday, August 5th. Citigroup Inc. lifted their target price on Regency Centers Corp. from $76.00 to $81.00 and gave the company a “neutral” rating in a report on Friday, August 12th. Finally, Deutsche Bank AG lifted their target price on Regency Centers Corp. from $69.00 to $77.00 and gave the company a “hold” rating in a report on Wednesday, August 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $79.82.
Regency Centers Corp. (NYSE:REG) opened at 68.16 on Wednesday. Regency Centers Corp. has a one year low of $64.28 and a one year high of $85.35. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 42.84 and a beta of 0.69. The stock has a 50 day moving average price of $73.73 and a 200-day moving average price of $78.08.
Regency Centers Corp. (NYSE:REG) last released its earnings results on Tuesday, November 1st. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.01. Regency Centers Corp. had a return on equity of 6.61% and a net margin of 20.55%. During the same period last year, the firm earned $0.76 earnings per share. On average, analysts predict that Regency Centers Corp. will post $3.26 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Monday, November 14th. Regency Centers Corp.’s dividend payout ratio (DPR) is currently 186.92%.
In related news, Director Bryce Blair purchased 1,251 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were purchased at an average price of $79.79 per share, for a total transaction of $99,817.29. Following the transaction, the director now directly owns 4,084 shares of the company’s stock, valued at approximately $325,862.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.
A number of institutional investors have recently modified their holdings of REG. Veritable L.P. boosted its position in shares of Regency Centers Corp. by 0.5% in the second quarter. Veritable L.P. now owns 8,463 shares of the real estate investment trust’s stock valued at $709,000 after buying an additional 40 shares during the period. 1st Global Advisors Inc. boosted its position in Regency Centers Corp. by 1.5% in the third quarter. 1st Global Advisors Inc. now owns 3,750 shares of the real estate investment trust’s stock valued at $291,000 after buying an additional 57 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its position in Regency Centers Corp. by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 22,979 shares of the real estate investment trust’s stock valued at $1,924,000 after buying an additional 65 shares during the last quarter. Phocas Financial Corp. boosted its position in Regency Centers Corp. by 1.1% in the first quarter. Phocas Financial Corp. now owns 6,740 shares of the real estate investment trust’s stock valued at $504,000 after buying an additional 75 shares during the last quarter. Finally, Somerset Trust Co boosted its position in Regency Centers Corp. by 1.3% in the third quarter. Somerset Trust Co now owns 6,053 shares of the real estate investment trust’s stock valued at $469,000 after buying an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.
About Regency Centers Corp.
Regency Centers Corporation is a real estate investment trust (REIT) and the general partner of the Regency Centers, L.P. (Operating Partnership). The Company’s operating, investing and financing activities are performed through the Operating Partnership, its subsidiaries and through its co-investment partnerships.
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